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Reclaim VAT

Global VAT Recovery

With Yokoy, companies can unlock their savings potential in the area of VAT refunds - based on efficient and automated processes

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How it works

Automatic readout of value added tax

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Artificial Intelligence

Yokoy's AI model detects and validates VAT on all invoices and receipts.

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Accounting preparation

Yokoy automatically prepares the accounting journal for correct accounting and VAT reclaim.

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Never lose money again

Your company will no longer lose forgotten VAT reclaims.

A receipt having the VAT read out, with an invoice at the background

VAT definition

What is VAT and why can you reclaim it?

VAT taxes domestic consumption. Since it would be too complicated to settle each consumption of each citizen directly with the state, the tax is collected from companies. They, in turn, pass on the VAT to consumers by including the tax in the price or on the invoice. 
The VAT can be reclaimed if it concerns services that are used for the own company (such as expenses or supplier invoices). This is the so-called input tax. VAT can also be reclaimed on services purchased abroad.

VAT refund with Yokoy

How does Yokoy help?

Yokoy's AI model automatically detects VAT on receipts and invoices, validates them and prepares the accounting journal for correct accounting and VAT reclaim. Yokoy sends all relevant VAT data to our customers' ERP system to ensure recovery. For all VAT that cannot be reclaimed directly for legal reasons (e.g. no tax registration in the respective countries), Yokoy offers standard integrations together with partners. Through these, the data is sent to third-party providers who handle the reclaim for the end customer.

VAT refund with Taxback international or Cashback

Want to try it out yourself?

Book a free demo

Yokoy in action

Yokoy automates your spend management

Save money, time and nerves with Yokoy! All spending processes are automated with artificial intelligence.

Yokoy integrates directly with your favorite financial and HR systems

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$20 billion of foreign VAT goes unclaimed each year

Portrait Thomas Inhelder, CFO YokoyQuotation marks

“Reclaiming VAT is also worthwhile for startups. For example, Yokoy was able to reclaim over CHF 10,000 in 2020! For many of our customers, Yokoy makes it possible to completely amortize the costs of the software already through the VAT reclaim.”

Thomas Inhelder, CFO Yokoy

Yokoy is growing rapidly, but with 30+ employees, we are still one of the SMEs. Nevertheless, we are able to save significant amounts by reclaiming VAT. We use our tool for our spend management as a matter of course, and thanks to Yokoy with 30 employees, we were able to reclaim 10,000 CHF of input tax in 2020.

For companies with 100 or more employees, the savings potential is correspondingly higher and often at least 50'000 to 100'000 CHF per year in refunds can be calculated in. These are savings that are very quickly lost in whole or in part with manual accounting systems.

Frequently asked questions

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Does Yokoy check data protection via external institutions?
Data protection is a top priority at Yokoy. Additionally, Yokoy has tasked external penetration testers (hackers) to constantly check the platform for vulnerabilities. We follow local regulations such as GDPR in the EU or the Swiss Data Protection Act to deliver the best data protection standards.
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How long does an implementation take?
This is very much dependent on the configurations and the integrations. An implementation can take from a few weeks to several months. For example, a global implementation with 2 legal entities, an ERP system integration, credit card integrations and SSO setup takes about 2 months. Thanks to the latest technology, Yokoy is able to configure and test the tool in a very short time. The projects are carried out either by the Yokoy Services team or a certified implementation partner.
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Can I buy Yokoy's solution as a single product?
Yes. If you are looking for automated expense management only, you can buy Yokoy Expense separately. Automated invoice management (Yokoy Invoice) and card management (Yokoy Card) are also available separately. 
Of course, the greatest benefit comes from the complete package of expense, invoice and card management, as the interfaces into the ERP system can be used for the entire spend management and also everything can be operated in the same Yokoy app (also mobile app).
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Does Yokoy integrate with my financial and HR systems?
Yokoy integrates with more than 50 systems and versions. Here you can find the list of standard integrations. In case we do not yet integrate with your specific system, please contact us here and let’s discuss. There is also the possibility for you to use our free Open REST API to connect your favorite systems with the Yokoy platform yourself.
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How much does Yokoy cost?
For the Yokoy team, it is important that the spend management tool and Yokoy cards are properly set up and integrated into the company's system landscape. No two setups are the same! We believe in full automation. That's why we're happy to discuss your specific needs and provide you with a tailored offer.
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Can Yokoy be used by large global companies?
Yes, Yokoy brings true added value to global enterprise customers. The tool is built for complex, global multi-entity configurations and integrates with most enterprise ERP & HRM tools such as SAP R3/S4 and Successfactors, among others. Our experienced onboarding project managers will lead the project from the planning to the implementation and testing phases, and will hand over the tool to the company during a training workshop session. Global enterprise customers will benefit from a dedicated key account manager and financial process consulting from our in-house finance experts.

The one-stop solution for corporate spending

Discover all Yokoy products

Expense Management

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Supplier Invoices

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Physical Cards

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Virtual Cards

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COMING SOON

Subscription Management

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COMING SOON

These features are included in all Yokoy products

Customizable & integrable

Customize workflows, policies and more, while integrating all your favorite tools.

Active fraud prevention

The Yokoy artificial intelligence module actively recognizes fraud patterns and flags them as such.

Audit-proof

Modern audit protocols ensure compliance with local auditing standards in Switzerland, Austria, Germany, the US and many more.

On the go in real time

Submit expenses directly on your mobile phone or web app - anywhere, anytime - even offline.

Automated VAT-read out

Yokoy recognizes VAT, validates it and automatically prepares the booking journal for the correct booking and VAT reclaim.

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Trips & Auto lump sum calculation

Lump-sums are automatically calculated based on your internal guidelines.

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Auto-reconciliation of card transactions

Yokoy directly feeds in your card transactions, matches them with the receipts and does the reconciliation work for you.

Artificial Intelligence scanning

Automated spend reporting and real-time policy checking, thanks to cutting-edge AI technology.

Auto-approval

All expenses are reviewed and validated by the Yokoy AI engine, so that you only need to look at special cases manually.

Assistant or deputy

Manage expenses on behalf of your manager(s) or delegate tasks and assign deputies on behalf of you.

Security

Data encryption and protection are key aspects of Yokoy, including GDPR compliance, permission-based access policies and Single Sign On (SSO) using the SAML/OAuth standard.

Data Analytics

Create spending reports and analysis dashboards to have the overview you always wanted.

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Interested?

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